Crypto-focused asset-management firm BlockTower has launched a venture capital arm with a new $150 million fund to back decentralized-finance (DeFi) and blockchain-infrastructure projects. The fund has operated in stealth since December and counts BPI France and MassMutual among its financial backers.
The new venture-capital arm will be led by general partner Thomas Klocanas, a veteran of investment firm White Star Capital, who confirmed the fund details during a call with CoinDesk.
BlockTower is one of several notable crypto investment firms that is a registered investment advisor (RIA), which gives the firm more flexibility particularly when it comes to liquid and illiquid token investments. Recent BlockTower investments have included layer 1 blockchain Aptos and institutional finance network Maple Finance.
The Block was the first to report on news of the launch.
UPDATE (Oct. 13, 21:33 UTC): Adds BlockTower confirmation and removes 'Report' from the headline.
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